| Abstract | Reflecting an improvement in labour market conditions and bullish sentiment as a result of rising property and stock prices, domestic demand strengthened in the first half of the year. Export growth, however, remained sluggish. Domestically-generated inflation is likely to pick up as labour costs and rentals are set to increase, but imported inflation is expected to remain subdued in the second half. The economy would be underpinned by sustained growth in consumer and investment spending in the second half of 1997. |
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